Member Sign In

You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating indiv idual securities.

If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.

Ubiquiti Networks to Enhance Shareholder Wealth

Ubiquiti Networks Inc. (UBNT - Free Report) recently announced that its board of directors authorized a $75 million share repurchase program to buy back its common stock. The program is scheduled to start from Jun 2, 2014.

In Aug 2012, the company had entered into a loan agreement, which included a $50.0 million revolving credit facility valid till Aug 7, 2015. This credit facility is likely to cushion the share repurchase program.

Ubiquiti Networks markets and sells high volumes of carrier and enterprise-class communications platforms through a differentiated business model. Its business model is backed by a rapidly growing and highly engaged community of telecom service providers, distributors, value-added resellers, systems integrators and corporate IT professionals, referred to as the Ubiquiti Community. The company classifies its revenues into three product categories: systems, embedded radios and antennas/other.

Further, the company maintains a sound and flexible balance sheet with ample liquidity that enables it to capitalize on potential acquisition opportunities to fuel its top line. Ubiquiti Networks ended the third quarter with cash and cash equivalents of $291.7 million at the quarter end compared with $227.8 million as of Jun 30, 2013, whereas its long-term debt declined 7.0% in the last nine months to $66.1 million.

Resources

Client Support

Follow Us

Zacks Research is Reported On:

Yahoo

MSN

Marketwatch

Nasdaq

Forbes

Investors.com

Morningstar

Zacks Investment Research is an A+ Rated BBB Accredited Business.

Copyright 2016 Zacks Investment Research

At the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. Since 1988 it has nearly tripled the S&P 500 with an average gain of +26% per year. These returns cover a period from 1988-2015 and were examined and attested by Baker Tilly Virchow Krause, LLP, an independent accounting firm.

Visit performance for information about the performance numbers displayed above.